NTII 1.29 Neurobiological Technologies Reports $2 Million Quarterly Payment for Sales of Memantine PR Newswire "US Press Releases "
EMERYVILLE, Calif., Aug. 1 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII), today announced it has received approximately $2 million from Merz Pharmaceuticals GmbH (Merz) for sales by Merz and its marketing partners of Memantine for the treatment of moderate-to-severe Alzheimer's disease for the quarter ended March 31, 2007 . This represents a 25% increase in NTI's royalty payments compared to the same quarter last year. Under an exclusive marketing agreement, NTI receives quarterly royalty payments on sales of Memantine by Merz and its marketing partners.
Paul E. Freiman, President and CEO of Neurobiological Technologies said, "We are once again pleased with the progress made in sales of Memantine globally, and the reflective royalty payment which we have just received."
About Neurobiological Technologies, Inc.
NTI is a biotechnology company engaged in the business of acquiring and developing central nervous system related drug candidates. The Company is focused on therapies for neurological conditions that occur in connection with ischemic stroke and brain cancer. The Company's strategy is to in-license and develop later-stage drug candidates that target major medical needs and that can be rapidly commercialized. NTI's experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including: our dependence on Merz and its marketing partners and other risks detailed from time to time in our Annual Report of Form 10-K and other filings with the Securities and Exchange Commission . Actual results may differ materially from those projected. These forward- looking statements represent our judgment as of the date of the release. We undertake no obligation to update these forward-looking statements.
www.ntii.com
SOURCE Neurobiological Technologies, Inc.
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